Europe Renewable Energy Market

Q: Which End-Use segment led the Europe Renewable Energy Market?

The Industrial segment dominated the market in 2024. Read More

ID: MRFR/E&P/20042-CR

141 Pages

Chitranshi Jaiswal

September 2025

Europe Renewable Energy Market Research Report Information by Type (Hydropower, Wind Energy, Solar Energy, Bioenergy, Geothermal Energy, Ocean Energy), by Material Type (Recycled Materials, Bio-Based Materials, Low-Impact Materials), by End-Use (Residential, Industrial, Commercial) and Region (Europe) - Forecast till 2035

Europe Renewable Energy Market Infographic

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Summary Table of Contents Segmentation Infographic

1. Market Overview

2. Market Trends

3. Market Segment Insights

4. Key Players and Competitive Insights

5. Industry Developments

6. Market Segmentation

7. Report Scope

8. Market Highlights

9. FAQs

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Europe Renewable Energy Market Summary

The Europe Renewable Energy market is poised for substantial growth, projected to reach 3657.7 USD Billion by 2035.

Key Market Trends & Highlights

Europe Renewable Energy Key Trends and Highlights

The market valuation is estimated at 958.5 USD Billion in 2024, indicating a robust starting point for growth.
From 2025 to 2035, the market is expected to expand at a compound annual growth rate of 12.95%.
By 2035, the market is anticipated to increase nearly fourfold, reaching 3657.7 USD Billion.
Growing adoption of renewable energy technologies due to increasing environmental awareness is a major market driver.

Europe Renewable Energy Market

CAGR

12.95%

Market Size & Forecast

2024 Market Size	958.5 (USD Billion)
2035 Market Size	3657.7 (USD Billion)
CAGR (2025-2035)	12.95%

Major Players

Siemens Gamesa, EDF Renewables, Ørsted, ACCONIA S.A., Iberdrola, Enel Green Power, Vestas, Brookfield Renewable Partners, First Solar, Canadian Solar

Market Segment Insights

Renewable Energy

Based on type, the Europe Renewable Energy Market is Segmented into Hydropower, Wind Energy, Solar Energy, Bioenergy, Geothermal Energy, Ocean Energy. The Solar Energy segment dominated the Europe market in 2024, while the Wind Energy segment is projected to be the fastest–growing segment during the forecast period. Solar energy has emerged as a major pillar in Europe’s transition to clean energy, driven by technological innovation, supportive government policies, and significant cost reductions.

Countries such as Germany, Spain, Italy, and the Netherlands have taken the lead in adopting both utility-scale solar photovoltaic (PV) and rooftop solar systems. The declining cost of solar modules and ease of installation have encouraged widespread deployment in both residential and commercial sectors. Feed-in tariffs, net metering, and EU-backed subsidies have historically propelled growth, while more recently, power purchase agreements (PPAs) and solar leasing models have expanded Solar’s reach. Solar PV has become increasingly competitive with fossil fuels, even without subsidies.

Renewable Energy

Based on material type, the Europe Renewable Energy Market is Segmented into Recycled Materials, Bio-Based Materials, Low-Impact Materials. The Recycled Materials segment dominated the Europe market in 2024, while the Low-Impact Materials segment is projected to be the fastest–growing segment during the forecast period. As stakeholders seek to mitigate the environmental impact of clean energy technology, recycled materials are becoming more and more significant in the renewable energy business.

Products like solar panels, wind turbines, and energy storage systems are incorporating these materials, which include recycled steel, aluminum, plastics, glass, and rare earth elements. The increasing focus on sustainable resource utilization and the idea of the circular economy is one of the main forces behind this development. Policies that require recycling material in infrastructure projects are being implemented by governments and companies especially in Europe and the European Union.

Furthermore, employing recycled materials may significantly reduce the total carbon footprint of renewable energy systems, supporting wider decarbonization objectives. But there are still issues, especially with material quality and consistency, which might have an impact on performance in extremely sensitive renewable applications. Increased adoption is also hampered by supply chain diversity and a shortage of high-quality post-consumer materials.

FIGURE 2: EUROPE RENEWABLE ENERGY MARKET SHARE BY MATERIAL TYPE 2024 AND 2035 (USD BILLION)

Renewable Energy

Based on End-Use, the Europe Renewable Energy Market is segmented into Residential, Industrial, Commercial. The Industrial segment dominated the Europe market in 2024, while the Industrial segment is projected to be the fastest–growing segment during the forecast period. The industrial sector is increasingly turning to renewable energy to reduce operational emissions, improve energy security, and meet sustainability targets. Renewable electricity from on-site solar and wind installations, as well as corporate power purchase agreements (PPAs), is replacing fossil-based electricity sources.

Countries like Germany, the Netherlands, and France have seen industrial users invest in renewable infrastructure or sign long-term contracts with green energy providers. Process heat, a major industrial energy demand, is being met through biomass boilers, solar thermal systems, and waste heat recovery solutions. Industries such as pulp and paper, food processing, and cement manufacturing are leading adopters of bioenergy.

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Regional Insights

Based on Country, the Europe Renewable Energy Market is Segmented into Germany, France, UK, Spain, Italy, Netherlands, Belgium, Austria, Poland, Czech Republic, Slovakia, Hungary, Romania, Baltic Countries, Rest of Europe. The Germany dominated the Europe market in 2024, while the Germany is projected to be the fastest–growing segment during the forecast period. Germany is the leading country in Europe’s renewable energy market, driven by its strong policy framework, technological innovation, and large-scale investments in clean energy.

The country has been a pioneer in the energy transition (“Energiewende”), focusing on expanding wind, solar, and biomass energy while phasing out nuclear and reducing dependence on fossil fuels. In 2024, Germany accounted for the largest market share due to its extensive installed renewable capacity, advanced grid infrastructure, and favorable government incentives.

Moreover, it is projected to be the fastest-growing market during the forecast period, supported by ambitious climate targets, increased investment in offshore wind projects, solar expansion, and hydrogen development. Germany’s strong industrial base and commitment to decarbonization continue to position it as a central hub for renewable energy growth in Europe.

Key Players and Competitive Insights

Many Europe, regional, and local vendors characterize the Renewable Energy Market. The market is highly competitive, with all the players competing to gain market share. Intense competition, rapid advances in technology, frequent changes in government policies, and environmental regulations are key factors that confront market growth. The vendors compete based on cost, product quality, reliability, and government regulations. Vendors must provide cost-efficient, high-quality products to survive and succeed in an intensely competitive market.

The major competitors in the market are Siemens Gamesa, EDF Renewables, Ørsted, ACCONIA S.A., Iberdrola, Enel Green Power, Vestas, Brookfield Renewable Partners, First Solar, Canadian Solar among others. The Europe Renewable Energy Market is a consolidated market due to increasing competition, acquisitions, mergers and other strategic market developments and decisions to improve operational effectiveness.

Key Companies in the Europe Renewable Energy Market market include

Industry Developments

March 2025: Ørsted reached important milestones for both phases of its combined 112 MW Bahren West onshore wind project in Brandenburg, Germany. Bahren West I is now Ørsted’s largest German onshore wind project in its portfolio. With its 50.4 MW capacity, the project can supply the equivalent of 35,000 German households. With the first stage of the Bahren West wind farms completed, Ørsted now sets its sight on the second phase of the project with construction work of the 61.6 MW Bahren West II Onshore Wind Farm expected to commence in May 2025. Its final completion is expected in 2027.

March 2025: Vestas has secured a firm order for 68 V236-15.0 MW wind turbines for Vattenfall’s Nordlicht 1 offshore wind project. The agreement is for the supply, installation, and commissioning of the turbines. The scope of the contract includes a comprehensive 5-year service and warranty agreement followed by a 25-year operational support agreement. The order for Nordlicht 1 totals 1,020 MW, with a grid connection capacity of 980 MW and an excess capacity of 40 MW to use the connection capacity as efficiently as possible.

June 2024: An innovative energy transition and redevelopment project has been successfully completed with the full support of the local authorities and community: Trino, in the province of Vercelli, in the Piedmont region, is now home to the largest operating solar farm in northern Italy. The project, implemented on the site by Enel Green Power, involved the construction of a photovoltaic plant equipped with state-of-the-art storage technology. Trino’s history sets a record in renewable energy and proves that the site has played a major role in Italian energy history: in fact, until 1987, the town was home to one of the four second-generation nuclear power plants operating in Italy, and later to the country’s first combined cycle power plant.

July 2024: Repsol and EDF Renewables have reached an exclusivity agreement to join forces in view of future offshore wind tenders in Spain and Portugal, given that the Iberian Peninsula offers significant growth opportunities. Renewable generation projects are one of the strategic pillars of Repsol's energy transition process. To develop its portfolio of renewable projects, the company has set an investment framework of between €3 and €4 billion net until 2027. Repsol expects to have 9,000 MW-10,000 MW installed by 2027, of which 50% will be in the Iberian Peninsula and 30% in the United States.

Europe Renewable Energy Market Segmentation

Renewable Energy by Type Outlook

Hydropower
Wind Energy
Solar Energy
Bioenergy
Geothermal Energy
Ocean Energy

Renewable Energy by Material Type Outlook

Recycled Materials
Bio-Based Materials
Low-Impact Materials

Renewable Energy by End-Use Outlook

Residential
Industrial
Commercial

Renewable Energy Regional Outlook

Europe
- Germany
- France
- UK
- Spain
- Italy
- Netherlands
- Belgium
- Austria
- Poland
- Czech Republic
- Slovakia
- Hungary
- Romania
- Baltic Countries
- Rest of Europe

Market Segmentation

Regional Outlook

Germany
France
UK
Spain
Italy
Netherlands
Belgium
Austria
Poland
Czech Republic
Slovakia
Hungary
Romania
Baltic Countries
Rest of Europe

Renewable Energy by Type Outlook

Hydropower
Wind Energy
Solar Energy
Bioenergy
Geothermal Energy
Ocean Energy

Renewable Energy Regional Outlook

Germany
France
UK
Spain
Italy
Netherlands
Belgium
Austria
Poland
Czech Republic
Slovakia
Hungary
Romania
Baltic Countries
Rest of Europe

Renewable Energy by End-Use Outlook

Residential
Industrial
Commercial

Renewable Energy by Material Type Outlook

Recycled Materials
Bio-Based Materials
Low-Impact Materials

Report Scope

Report Attribute/Metric	Details
Market Size 2024	USD 958.45 Billion
Market Size 2025	USD 1,062.42 Billion
Market Size 2035	USD 3,657.72 Billion
Compound Annual Growth Rate (CAGR)	13.2% (2025-2035)
Base Year	2024
Forecast Period	2025-2035
Historical Data	2019-2023
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	By Type, Material Type, End-Use
Geographies Covered	Europe
Countries Covered	The Germany, France, UK, Spain, Italy, Netherlands, Belgium, Austria, Poland, Czech Republic, Slovakia, Hungary, Romania, Baltic Countries, Rest of Europe
Key Companies Profiled	Siemens Gamesa, EDF Renewables, Ørsted, ACCONIA S.A., Iberdrola, Enel Green Power, Vestas, Brookfield Renewable Partners, First Solar, Canadian Solar
Key Market Opportunities	· Development of advanced energy storage technologies · Electrification of the transportation sector
Key Market Dynamics	· Growing awareness of climate change and environmental degradation · Supportive government policies and incentives

FAQs

How much is the Europe Renewable Energy Market?

The Europe Renewable Energy Market was valued at USD 958.45 Billion in 2024.

Which Material Type holds the largest market share?

The Recycled Materials segment by End-Use holds the largest market share and grows at a CAGR of 13.2% during the forecast period.

Which country holds the largest market share in the Europe Renewable Energy Market?

Germany holds the largest market share in the Europe Renewable Energy Market.

Who are the prominent players in the Europe Renewable Energy Market?

Siemens Gamesa, EDF Renewables, Ørsted, ACCONIA S.A., Iberdrola, Enel Green Power, Vestas, Brookfield Renewable Partners, First Solar, Canadian Solar are prominent players in the Europe Renewable Energy Market.

Which End-Use segment led the Europe Renewable Energy Market?

The Industrial segment dominated the market in 2024.

Europe Renewable Energy Market Research Report – Forecast Till 2035 Infographic

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